mortgages :: Conforming Loans

Conforming Loans

A conforming loan is a loan that meets bank funding criteria.

Because of its stake in the mortgage market and because of its history, Fannie Mae and Freddie Mac each year set the limit on what constitutes a conforming loan, based on the October-to-October changes in mean home price, above which a mortgage is considered a jumbo loan, and typically has higher rates associated with it. This is because both Fannie Mae and Freddie Mac only buy loans that are conforming, to repackage into the secondary market, making the demand for a non-conforming loan much less.

The Mid-Island Mortgage Corp. difference.

What separates Mid-Island Mortgage Corp. from everyone else is our solid track record and proven stability since 1959. Mid-Island Mortgage Corp. is your personal mortgage banker, regardless of trends and market cycles. While many of the new players to the home mortgage field have abandoned the community, chasing the next "hot market" to take advantage of, Mid-Island Mortgage Corp. is still happily serving you, your family and your neighbors.

Our commitment to the thousands seeking the dream of home ownership is one of the many reasons we say "you always have a home with us!"